íàçâàíèå

Ethereum Co-Founder Joseph Lubin: Crypto Market Slump Won’t Curtail Growth

Ethereum Co-Founder Joseph Lubin: Crypto Market Slump Won’t Curtail Growth

Ethereum co-founder Joseph Lubin said that he does not see the recent slump in cryptocurrency prices as a constraint to growth in the market. In a recent interview with Bloomberg, Lubin said the collapse in prices is not a new development as it has always been present in the “blockchain ecosystem since 2009 when Bitcoin was invented.”

He went further to note that in spite of the slump in prices, under scrutiny, the price bubbles will seem like “little pimples on a chart” because “growth has been exponential,” as well.

Lubin, who left Ethereum to launch ConsenSys, an organization that helps startups build on the Ethereum network, stated that each bubble has led to a “tremendous surge in activity” which has seen development activity rise by “two orders of magnitude” since the jump in prices last year December.

For Lubin, bubbles are part of the ecosystem that has positives as well as negatives. Each of the bubbles experienced in the market has brought more “attention into our ecosystem,” he explained. The bubble has created attention for the industry which has attracted entrepreneurs, developers and investment and the prospect of “building fundamental infrastructure” and creating more value.

The constant volatility in crypto prices, however, was attributed to “trader types,”  but Lubin insists the recent slump in prices won’t slow down adoption or development of core infrastructure for the ecosystem.

He said:

Earlier this week, the ethereum price dropped below $300 for the first time since Nov. 2017. ETH ultimately fell as low as $249 before rebounding to a present value of $287.

Featured Image from YouTube/Crypto News Clips


• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.
19.08.2018 / 12:40 63
Ethereum Co-Founder: Sinking Price of Crypto Will Not Hurt Growth Ethereum Co-Founder: Sinking Price of
Ethereum (ETH)–Joseph Lubin, one of the co-founders to the second largest cryptocurrency by market capitalization Ethereum and current CEO of
Ethereum Co-Founder Expects Another Crypto Bubble, Benefits Ecosystem Ethereum Co-Founder Expects Another
Could another exponential cryptocurrency bubble be on the horizon? The co-founder of Ethereum believes so, and that each new bubble brings in a
Market Woes No Concern For Coinbase With 50k Daily Signups Market Woes No Concern For Coinbase
Cryptocurrency markets have rebounded a little today following a week of heavy losses. Those in the industry are unfazed though as exchange giants
Co-Founder of Ethereum: Blockchain Will be “More Disruptive” Than Dotcom Bubble Co-Founder of Ethereum: Blockchain Will
Joseph Lubin spoke at length earlier today about the disruptive potential of blockchain technology. The co-founder of the Ethereum network and
Ethereum Co-Founder Lubin: Cryptocurrencies Should Stay ‘Unfettered” from Regulations Ethereum Co-Founder Lubin:
It’s a tricky balance, but Ethereum Co-Founder Joseph Lubin believes the cryptocurrency market should embrace regulators though he also points out
Ethereum Co-Founder: Saying Cryptocurrency is a Bursted Bubble is “Shortsighted” Ethereum Co-Founder: Saying
The co-founder of ethereum has made the argument that the cryptocurrency market hasn’t burst its bubble following a slump in market prices last week.
Comments (0)
Add a comment
Comment on